No deduction of tax where specified payments, including certain interest, deposits and small-value payments, are made to exempt recipients. Clause 200 exempts deduction of tax at source for specified payments including non-salary payments by non-audited individuals and HUFs; interest on ... Summary
No deduction of tax where specified payments, including certain interest, deposits and small-value payments, are made to exempt recipients.
Clause 200 exempts deduction of tax at source for specified payments including non-salary payments by non-audited individuals and HUFs; interest on government securities; limited debenture interest to individuals of listed widely held companies; interest on time deposits with specified banks where branch-level payments are modest; other small-aggregate interest; interest to financial institutions and notified bodies; inter-partner interest; certain government-scheme deposits; non-time bank deposits; central government interest; limited motor-accident compensation interest; zero coupon bond maturities; carriage payments with PAN; and various capped contractor, commission, rent and acquisition compensation payments.
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